Exploring barriers to secondhand luxury consumption among Chinese consumers and changes during the COVID-19 pandemic

The purchasing environment for Chinese consumers is rife with rampant counterfeit luxury goods and strong superstitions and stereotypes about secondhand goods. Therefore, this study conceptualized five dimensions of perceived risk (perceived functional, financial, sales-source, physical, and psychosocial–superstitious) to explain Chinese consumers' reluctance to purchase secondhand luxury goods (SLGs). Due to the sudden onset of the COVID-19 pandemic, this research was divided into two studies: before and during the outbreak. The pre-outbreak results show that, except for financial risk, all perceived risks significantly negatively affected the perceived value of SLGs. Conversely, the second study revealed that all five categories had significant negative effects. Additionally, both studies showed that perceived value positively affected SLG purchase intention, while self-regulatory focus (prevention focus against promotion focus) had a significant moderating effect. This research has several significant theoretical and practical implications for establishing more effective marketing strategies for the sustainable development of SLG markets.